AtriCure Announces Pricing of Public Offering of Common Stock
May 11 2020 - 8:10PM
Business Wire
AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in treatments
for atrial fibrillation (Afib) and left atrial appendage (LAA)
management, today announced the pricing of its underwritten
offering of 3,977,273 shares of its common stock at a price to the
public of $44.00 per share pursuant to its existing automatic shelf
registration statement. Gross proceeds to AtriCure from the
offering are expected to be approximately $175 million, before
deducting underwriting discounts and commissions and estimated
offering expenses. AtriCure has granted to the underwriters of the
offering a 30-day option to purchase up to an additional 596,590
shares of common stock on the same terms and conditions. The
offering is expected to close on May 14, 2020, subject to customary
closing conditions. AtriCure intends to use the net proceeds from
the offering for working capital and other general corporate
purposes, which may include repayment of debt or long-term
liabilities, and other potential corporate or market development
activities.
J.P. Morgan and Piper Sandler are acting as joint book-running
managers for the offering. Canaccord Genuity, Needham &
Company, Stifel, SVB Leerink and BTIG are acting as
co-managers.
The securities described above are being offered by AtriCure
pursuant to an automatic shelf registration statement previously
filed with the Securities and Exchange Commission (SEC) on March 1,
2019. The offering is being made only by means of a written
prospectus and prospectus supplement that form a part of the
registration statement. A preliminary prospectus supplement has
been filed with the SEC and is available on the SEC’s website at
www.sec.gov. A final prospectus supplement will be filed with the
SEC. Copies of the preliminary prospectus supplement and
accompanying prospectus, and when available, copies of the final
prospectus supplement and the accompanying prospectus, may also be
obtained by contacting J.P. Morgan Securities LLC, Attention:
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by phone at 1-866-803-9204, or by email at
prospectus-eq_fi@jpmchase.com; or Piper Sandler & Co.,
Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, or by telephone at 800-747-3924, or by email
at prospectus@psc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities being offered, nor
shall there be any sale of the securities being offered in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About AtriCure
AtriCure, Inc. provides innovative technologies for the
treatment of Afib and related conditions. Afib affects more than 33
million people worldwide. Electrophysiologists and cardiothoracic
surgeons around the globe use AtriCure technologies for the
treatment of Afib and reduction of Afib related complications.
AtriCure’s Isolator® Synergy™ Ablation System is the first and only
medical device to receive FDA approval for the treatment of
persistent Afib. AtriCure’s AtriClip Left Atrial Appendage
Exclusion System products are the most widely sold LAA management
devices worldwide.
Forward-Looking Statements
This announcement contains forward-looking statements, including
statements relating to AtriCure’s expectations regarding the
completion, timing and size of the proposed public offering and use
of proceeds. These statements are subject to significant risks and
uncertainties; actual results could differ materially from those
projected and AtriCure cautions investors not to place undue
reliance on the forward-looking statements contained in this
release. These risks and uncertainties include, without limitation,
risks and uncertainties related to market conditions and
satisfaction of customary closing conditions related to the public
offering. There can be no assurance that AtriCure will be able to
complete the public offering on the anticipated terms, or at all.
Risks and uncertainties relating to AtriCure and its business can
be found in AtriCure’s Annual Report on Form 10-K and Quarterly
Reports on Form 10-Q filed with the SEC which contain risk factors.
Risk factors are also contained in the preliminary prospectus
supplement filed with the SEC with respect to the offering on May
11, 2020 and will be contained in the final prospectus supplement
to be filed with the SEC with respect to the offering. AtriCure
undertakes no duty or obligation to update any forward-looking
statements contained in this release as a result of new
information, future events, changes in AtriCure’s expectations or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20200511005978/en/
Andy Wade AtriCure, Inc. Chief Financial Officer (513) 755-4564
awade@atricure.com
Lynn Pieper Lewis Gilmartin Group Investor Relations (415)
937-5402 lynn@gilmartinir.com
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